Preheat your oven to 350°F (176°C).
I place everything but the chocolate chips and coconut into the mixer bowl. I blend until completely mixed, about 1-2 minutes.
Fold in the chocolate chips and the coconut.
Grease a Bundt pan and scoop the mixture into the Bundt pan.
Bake for 50 minutes, or until a toothpick comes out clean.
I wait for about 5-10 minutes before inverting the baked cake onto a parchment paper-lined dinner plate.
I freeze the cake overnight, or until I need it for a party.
On the day of the party, I remove the frozen cake and place it on the platter I will use to serve it.
Remove the parchment paper and cover the cake with plastic wrap until partially thawed and ready to frost and serve. Store leftover cake in the refrigerator covered with plastic wrap.
Use a mixer to blend the butter and cream cheese. Add the powdered sugar and coconut extract. Beat until smooth. Sprinkle the desired amount of shredded sweetened coconut on top of the frosting. Store leftover cake in the refrigerator covered with plastic wrap.